Arsenal Capital Partners, a New York-based private equity firm that invests in middle-market specialty industrial and healthcare companies, has acquired IGM Resins, a provider of intermediates to the global ultraviolet (UV) radiation cure coatings, inks and adhesives industry. UV technologies are used in numerous end markets, including printing, packaging, electronics and construction.
Founded in 1999, and headquartered in the Netherlands, IGM Resins is a global specialty chemical company and supplier of photoinitiators and acrylates to the worldwide UV curable coatings and inks markets. In 2010, the company acquired the Photomer brand UV acrylates business from Cognis providing the business with a fully integrated product portfolio including UV curable monomers, epoxy acrylates, polyester and polyether acrylates and urethane acrylates. IGM Resins has offices and production facilities in Europe, the U.S., South America and China.
The acquisition of IGM is the fourth acquisition by Arsenal Capital in 2012, following the investments in Fluoro-Seal Holdings, Plasticolors Inc. and Evonik’s Colorants business. IGM joins Arsenal’s extensive portfolio of investments in the specialty industrials sector. The firm’s current investments in this sector include Chromaflo Technologies, (combination of Plasticolors Inc. and Evonik’s Colorants business), the largest independent global pigment dispersion platform; Fluoro-Seal Holdings, a provider of plastic barrier, adhesion and surface enhancement products and services as well as manufacturer of value-added materials; Royal Adhesives & Sealants, a leading producer of proprietary, high-performance adhesives, sealants and coatings. Previous investments in the sector include Novolyte Technologies, Genovique Specialties, Velsicol Chemical, Sermatech International, and Vertellus Specialties.